Nancy Marshall-Genzer

Powell says the GOJ is threatening a criminal indictment over his Senate testimony last year about those renovations.

But Powell says that's a pretext.

Stein told NBC he doesn't know anything about the investigation.

Trump said the only pressure on Powell is that, quote, rates are far too high.

Yeah.

Senators on both sides of the aisle are upset about this.

North Carolina Republican Tom Tillis said on X News,

that he'll oppose the confirmation of any nominee for the Fed until, quote, this legal matter is fully resolved.

Massachusetts Democrat Elizabeth Warren posted on X that Trump is abusing the law and, quote, the Senate must not move any Trump Fed nominee.

All right.

The Fed announced yesterday that 11 of the 12 regional Fed bank presidents were reappointed to their jobs for new five-year terms, which start March 1st of next year.

The 12th Atlanta Fed President Rafael Bostic already announced he's retiring.

The regional Fed presidents are appointed by each bank's board of directors and need final approval from the Fed's Board of Governors in Washington tomorrow.

They have to be reappointed by the Fed every five years.

This is normally a mundane process, but recently Treasury Secretary Scott Besson said there should be a new rule, a requirement that regional Fed bank presidents have lived in their districts for at least three years.

The vote to reappoint the regional bank presidents was unanimous, meaning it appears that Fed Governor Stephen Myron supported it.

Myron served as chair of President Trump's Council of Economic Advisors until he was appointed to the Fed.

He's now on leave from his White House job.

I'm Nancy Marshall-Genzer for Marketplace.

Fed Chair Jerome Powell says the Fed is facing, quote, a complicated, unusual, difficult situation because the Bureau of Labor Statistics could be overestimating the number of jobs being created by about 60,000 a month.